Brevan Howard Capital Management LP acquired a new stake in shares of ACM Research, Inc. (NASDAQ:ACMR - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 10,906 shares of the specialty retailer's stock, valued at approximately $165,000.
A number of other hedge funds have also made changes to their positions in ACMR. Tower Research Capital LLC TRC lifted its position in ACM Research by 506.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,018 shares of the specialty retailer's stock valued at $30,000 after purchasing an additional 1,685 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of ACM Research in the fourth quarter worth $33,000. Picton Mahoney Asset Management grew its position in ACM Research by 66.2% in the fourth quarter. Picton Mahoney Asset Management now owns 3,104 shares of the specialty retailer's stock valued at $47,000 after acquiring an additional 1,236 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of ACM Research by 42.0% during the fourth quarter. Federated Hermes Inc. now owns 8,270 shares of the specialty retailer's stock worth $125,000 after purchasing an additional 2,447 shares during the last quarter. Finally, Ieq Capital LLC bought a new stake in ACM Research in the fourth quarter valued at approximately $162,000. 66.75% of the stock is owned by hedge funds and other institutional investors.
ACM Research Trading Down 2.5%
Shares of NASDAQ ACMR traded down $0.60 during trading on Friday, hitting $23.73. 1,086,439 shares of the company traded hands, compared to its average volume of 1,489,819. The company has a 50-day moving average price of $22.64 and a 200-day moving average price of $20.39. The company has a quick ratio of 1.34, a current ratio of 2.37 and a debt-to-equity ratio of 0.10. ACM Research, Inc. has a 1 year low of $13.87 and a 1 year high of $30.64. The firm has a market capitalization of $1.40 billion, a P/E ratio of 17.98 and a beta of 1.57.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on ACMR. JPMorgan Chase & Co. assumed coverage on ACM Research in a research note on Friday, February 28th. They issued an "overweight" rating and a $36.00 price objective for the company. Needham & Company LLC reiterated a "hold" rating on shares of ACM Research in a research report on Thursday, February 27th. Finally, Craig Hallum upgraded ACM Research from a "hold" rating to a "buy" rating in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, ACM Research has a consensus rating of "Moderate Buy" and a consensus target price of $29.40.
Read Our Latest Stock Report on ACMR
Insiders Place Their Bets
In other news, insider David H. Wang sold 56,250 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $26.57, for a total value of $1,494,562.50. Following the transaction, the insider now directly owns 747,708 shares of the company's stock, valued at $19,866,601.56. This represents a 7.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Chenming Hu sold 163,308 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $30.00, for a total transaction of $4,899,240.00. Following the completion of the sale, the director now owns 100,002 shares in the company, valued at approximately $3,000,060. The trade was a 62.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 266,576 shares of company stock worth $7,693,575. Insiders own 25.00% of the company's stock.
ACM Research Profile
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Free Report)
ACM Research, Inc, together with its subsidiaries, develops, manufactures, and sells single-wafer wet cleaning equipment for enhancing the manufacturing process and yield for integrated chips worldwide. It offers space alternated phase shift technology for flat and patterned wafer surfaces, which employs alternating phases of megasonic waves to deliver megasonic energy in a uniform manner on a microscopic level; timely energized bubble oscillation technology for patterned wafer surfaces at advanced process nodes, which provides cleaning for 2D and 3D patterned wafers; Tahoe technology for delivering cleaning performance using less sulfuric acid and hydrogen peroxide; and electro-chemical plating technology for advanced metal plating.
See Also
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